|
|
Article: PHILIPPINE BUREAU OF INTERNAL REVENUE TO COLLECT $8.78 MLN IN 02.
- Article from:
- AsiaPulse News
- Article date:
- April 25, 2002
CopyrightCOPYRIGHT 2002 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
MANILA, April 25 Asia Pulse - Philippines' Bureau of Internal Revenue chief Rene Banez today said he would stand by his goal of delivering P447 billion (US$8.78 billion) to the national coffers this year but rejected as impossible the proposal to raise the agency's target to P500 billion.
In a statement, Banez said the proposal, which has gained the support of the Lower House of Congress and the Development and Budget Coordinating Council, is "unrealistic" and a product of "political pressure."
"It would be grossly unrealistic to expect tax collections to increase by 29 per cent over a one year period, which is the implied increase of the P500 billion ...